Hodgdon Yachts and Boothbay Reg. Boatyard to merge
Hodgdon Yachts and Boothbay Region Boatyard announced Tuesday they have signed a letter of intent to merge Boothbay Region Boatyard in Southport and Wotton’s Wharf in Boothbay Harbor with Hodgdon Yachts. The merger is expected to become final this spring.
In a press release, Hodgdon Yachts President Timothy Hodgdon said combining Boothbay Region Boatyard’s facilities with his company’s facilities in East Boothbay, Richmond and Damariscotta “will create one of Maine's largest, full-service marine companies.”
Boothbay Region Boatyard will continue to provide maintenance and repair service to vessels ranging from outboard motorboats to yachts up to 80 feet. After the combination of the two businesses and the addition of approximately 30 employees at Boothbay Region Boatyard, Hodgdon will employ about 150 people in the Boothbay region.
Sandy Spaulding, Hodgdon Yachts senior business adviser, will serve as interim general manager of Boothbay Region Boatyard while Hodgdon conducts a national search to permanently fill the position.
Located on the west side of Boothbay Harbor, Boothbay Region Boatyard’s Wotton's Wharf has transient deep-water dockage for yachts up to 200 feet and is the home to the annual Shipyard Cup, a super yacht regatta that draws competitors from around the world.
In its press release, Hodgdon officials said the merger is part of an effort to diversify the fifth-generation company’s services and workload, including construction of custom yachts, tenders for super yachts, construction involving advanced composites design and projects for the Department of Defense. They see the merger as providing new opportunities for the Boothbay Region Boatyard to attract more project and refit work for yachts up to 80 feet.
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